Healthcare Services Group, Inc. (NASDAQ:HCSG) Short Interest Up 9.8% in December

Healthcare Services Group, Inc. (NASDAQ:HCSG) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totalling 3,030,000 shares, an increase of 9.8% from the December 15th total of 2,760,000 shares. Approximately 4.2% of the company’s stock are sold short. Based on an average daily trading volume, of 400,600 shares, the short-interest ratio is currently 7.6 days.

Healthcare Services Group Price Performance

Healthcare Services Group stock traded down $0.22 during midday trading on Friday, reaching $11.70. 291,831 shares of the company traded hands, compared to its average volume of 393,663. The firm has a market capitalization of $857.49 million, a price-to-earnings ratio of 16.96 and a beta of 0.56. The business has a 50 day moving average of $11.91 and a two-hundred day moving average of $11.24. Healthcare Services Group has a 12 month low of $8.98 and a 12 month high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The company had revenue of $428.10 million for the quarter, compared to the consensus estimate of $429.95 million. Healthcare Services Group had a net margin of 2.95% and a return on equity of 12.59%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.17 earnings per share. As a group, equities analysts forecast that Healthcare Services Group will post 0.81 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC raised its position in Healthcare Services Group by 80.8% in the third quarter. Jane Street Group LLC now owns 175,444 shares of the business services provider’s stock worth $1,960,000 after acquiring an additional 78,391 shares during the period. Geode Capital Management LLC raised its position in Healthcare Services Group by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,760,971 shares of the business services provider’s stock worth $19,674,000 after acquiring an additional 50,375 shares during the period. JPMorgan Chase & Co. raised its position in Healthcare Services Group by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 773,635 shares of the business services provider’s stock worth $8,642,000 after acquiring an additional 76,456 shares during the period. Foundry Partners LLC raised its position in Healthcare Services Group by 86.5% in the third quarter. Foundry Partners LLC now owns 807,031 shares of the business services provider’s stock worth $9,015,000 after acquiring an additional 374,301 shares during the period. Finally, Franklin Resources Inc. raised its position in Healthcare Services Group by 39.9% in the third quarter. Franklin Resources Inc. now owns 560,588 shares of the business services provider’s stock worth $5,858,000 after acquiring an additional 159,878 shares during the period. 97.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HCSG has been the topic of several analyst reports. Macquarie initiated coverage on shares of Healthcare Services Group in a research note on Monday, December 16th. They issued a “neutral” rating and a $13.00 target price on the stock. Benchmark reiterated a “buy” rating and issued a $17.00 target price on shares of Healthcare Services Group in a research note on Thursday, December 19th. StockNews.com upgraded shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Finally, Robert W. Baird dropped their target price on shares of Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Healthcare Services Group has a consensus rating of “Moderate Buy” and an average target price of $13.80.

About Healthcare Services Group

Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments of nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.